By Jacob Duritsky, Vice President, Strategy, Research and Talent, Team NEO
Northeast Ohio is well-known for its deep-rooted legacy in manufacturing. But since the 1970s, the region has faced the evolving challenges of modern industry, where rapid innovation, shifting population dynamics, and global competition have reshaped the economic landscape. Today, Northeast Ohio is rising to meet those challenges head-on, working collaboratively to drive industrial growth, attract and retain new residents, and create economic vibrancy in the region we call home.
Data in Action
That economic vibrancy is now visible and measurable through Team NEO’s Vibrant Economy Indicators (VEI) dashboard – a powerful and actionable tool featuring over 600 data points that showcase Northeast Ohio’s current economic opportunities and challenges. The dashboard provides detailed and accurate measures of our economic competitiveness, community strength, and individual prosperity across all demographics while measuring the same metrics in 12 other markets in the United States. This lens of comparison displays our gaps, highlights our progress, and reveals where Northeast Ohio is outperforming other regions.
Leading Across Industries
Northeast Ohio is harnessing its strengths in industries with deep local roots and global relevance, including polymers, healthcare, logistics, and advanced manufacturing. Companies are forming strategic alliances to bring new technologies, ideas, and opportunities to the forefront.
The polymer sector, anchored by the Polymer Industry Cluster (PIC) and supported by the Greater Akron Chamber, has earned both a state Innovation Hub award and a national Tech Hub designation. PIC members include global leaders like Goodyear Tire, Avery Dennison, and Bridgestone Americas, Inc., who are driving innovation across the region and industry, from new materials and processes to improving circularity.
The healthcare and biotechnology industries are also thriving. As the home of the Cleveland Clinic and the Cleveland Innovation District, a $565 million public-private partnership that brings the State of Ohio and JobsOhio together with Cleveland’s healthcare and higher education institutions to accelerate research, create jobs and educate the workforce of the future, Northeast Ohio attracts companies like Canon
Healthcare that seek to collaborate with world-class hospital systems and develop cutting-edge technologies to improve patient outcomes. These anchors are fueling research, retaining talent and creating investment in our region.
Our region’s economic resurgence will continue to be powered by a growing and increasingly agile workforce. Institutions like Case Western Reserve University, University of Akron, and a robust network of community colleges are growing talent bases across the engineering, healthcare, logistics, supply chain, and biotech industries. Apprenticeship programs, upskilling, and training initiatives, such as MAGNET’s Early College Early Career program and Towards Employment, are bridging the gap between education and employment, directly connecting students to high-demand careers while keeping talent in Northeast Ohio. Industry leaders are also working with local institutions to align workforce strategies with business objectives and secure more employees with skills for in-demand careers.
Retention efforts are also on the rise in Northeast Ohio. With affordable living, career mobility, and a renewed sense of pride in our region, more professionals are choosing to stay or return to build their futures in a place that is investing in theirs. Between 2018 and 2022, the share of residents aged 25-34 increased from 12.7% to 12.9%, signaling a modest but meaningful uptick in young professionals settling in the region.
Initiatives like the Cleveland Talent Alliance are helping drive this trend by offering networking opportunities and showcasing the region’s lifestyle beyond the workplace, highlighting local leisure, culture, and community. These efforts are part of a broader public-private push to reshape Northeast Ohio’s physical and economic landscape, making it more attractive and accessible to emerging talent.
These investments are not just about livability; they are about long-term opportunity. From the Cleveland Innovation District to Akron’s Bounce Innovation Hub, capital investments are revitalizing urban cores and industrial corridors and creating innovation zones. Real estate trends are reflecting this momentum: mixed-use developments are rising, commercial spaces are being repurposed, and residential growth is following suit. According to the City of Cleveland’s Building and Housing Department, the city of Cleveland and surrounding areas recorded $2.3 billion worth of new construction permits on commercial projects in 2024, more than double the previous year. Behind these impressive construction numbers lies a more strategic transformation taking place across Northeast Ohio.
Investing in What’s Next
These investments signal more than economic momentum; they reflect a region aligning its assets, talent, and vision for long-term growth. Northeast Ohio is leveraging data, collaboration, and strategic planning to build a more collaborative and resilient economy.
While challenges remain, we are equipped with the tools to solve them. Tools like Team NEO’s VEI dashboard give stakeholders and leaders a clearer view of where the region stands and where it can go. The ability to benchmark against peer markets and track progress across key metrics gives Northeast Ohio a distinct advantage in shaping its future.
From legacy industries evolving through innovation to new sectors gaining traction, Northeast Ohio is demonstrating what’s possible when data, strategy, and stakeholders align. Is your company interested in turning data into action for Northeast Ohio? Connect with the Team NEO research team to learn how the Vibrant Economy Indicators can inform your community initiatives and business decisions to strengthen our region.